Virtual Law Firms and ‘New Model’ Law Firms
The firms in this space may describe themselves differently using terms such as distributed and cloud-based. Some still look like traditional law firms in terms of how they present themselves through their websites and they still list office locations but fundamentally, they leverage technology to reduce their real estate costs and operate with lower overheads. Their financial models mean that their compensation structures and billable hours can look very different from traditional firms.
Examples of new model firms include:
RESOURCES
Are Law Firms Sustainable? It's The Model That Matters by Marc Cohen (Forbes)
The Viable Alternative to BigLaw Has Arrived – Virtual Law by Frederick Shelton (Attorney At Law Magazine)
The rise of the virtual lawyer: Why virtual law firms are replacing traditional practices (Wolters Kluwer)
Virtual Is the New Law Firm Reality – A roundtable of five leaders managing virtual law firms by Marcia Watson Wasserman (Law Practice Magazine)
Take a look at an NYC office that calls itself the 'future of law,' where sharks hang from ceilings and meetings are held on repurposed bleachers by Allana Akhtar (Business Insider)